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Urban Renewal Agency adopts FY26 budget; staff reports potential property purchase and school-district plan
Summary
The North Bend Urban Renewal Agency adopted its FY26 budget and heard staff updates on a potential long-term property acquisition and coordination with the North Bend School District.
The North Bend Urban Renewal Agency (URA) adopted its fiscal year 2026 budget and received staff updates on several redevelopment matters.
A motion recorded on the URA agenda approved the FY26 budget; the transcript includes the motion as "the urban renewal agency resolution number 71 adopted fiscal year 2026 budget in the amount of $4,000,352." There was some numeric back-and-forth during discussion (other lines in the transcript include similar figures such as $4,352,000 or $4,352,500 in adjacent items); the URA action as recorded in the meeting transcript cites $4,000,352.
The URA executive director reported staff are working with the state and a third party on a potential long-term acquisition (described as a purchase over a 40-year period) of a property referred to in staff comments as the Bay Cleaners. Staff said a letter of intent is in hand and further legal process and renovation planning will follow once the state acknowledges the proposal. The URA also said it will reconvene with the North Bend School District in July to discuss a revised urban renewal plan and maximum indebtedness, and that work on the library project (including final window and children's area work) is nearing completion.
Staff characterized the library project as a successful collaborative investment among the URA, the city and the library district.
